Amazon founder Jeff Bezos will sell most of his stake in the company after selling nearly $240 million worth of stock last week.
CNBC and Reuters write about it.
It said Bezos could sell 8 to 10 million shares for a total of more than $1 billion.
A representative for Bezos did not immediately respond to Reuters’ request for comment, nor did Amazon.
Bezos, who is the world’s third-richest person with a fortune of about $170 billion, still owns about 988 million Amazon shares, or nearly 10% of the company.
After Bezos stepped down as CEO of Amazon in 2021, he stepped up his philanthropy and said he plans to give away most of his fortune during his lifetime.
In August, Bezos and his fiancee Lauren Sanchez pledged $100 million to rebuild Maui after deadly wildfires ravaged the Hawaiian island.
Bezos has said he is selling at least $1 billion a year in Amazon stock to finance his rocket startup Blue Origin, and in 2020 he launched a $10 billion Earth Fund to fight the effects of climate change.
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